On 28 April 2022, the UAE Ministry of Finance has released a consultation paper providing details of, and seeking input, on the new federal corporate income tax (CIT) system to be implemented in the UAE, effective for financial years commencing on or after 1 June 2023.
By consulting with the business community and other interested parties as part of the implementation process, the UAE Government is demonstrating its commitment to implementing a CT regime that is compatible with the UAE’s business environment. The deadline for comments is 19 May 2022.
